What are the risks and considerations I should be aware of when switching to a cash account on Webull for trading cryptocurrencies?

1 answers

• Dec 17, 2021 · 3 years ago
  When you switch to a cash account on Webull for trading cryptocurrencies, it's important to be aware of the risks and considerations involved. One risk is that you won't have access to margin trading, which means you won't be able to amplify your potential profits. However, this also reduces the risk of significant losses. Another consideration is that you'll need to have enough funds in your account to cover your trades, as you won't have the option to use margin. Additionally, with a cash account, you won't be able to short sell cryptocurrencies, which can limit your trading strategies. It's important to carefully evaluate your trading goals and risk tolerance before deciding to switch to a cash account on Webull.
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